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| Top Priorities For Marketers in 2007 |
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| Wednesday, 11 April 2007 | |
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Accountability and Performance Top Priorities For Marketers in 2007 The 2007 Marketing Outlook survey, by the Chief Marketing Officer (CMO) Council, to capture insights and opinions about how marketers are focusing their efforts in 2007, finds that marketers look at measurement, improved efficiencies and customer knowledge as top challenges. In addition, they plan on making further changes to upgrade organizational effectiveness, strengthen customer engagement and achieve even greater measurability. Past studies by the CMO Council have demonstrated that chief marketers face intense pressure from bottom-line focused CEOs and demanding corporate boards to improve the relevance, accountability and performance of their organizations. This pressure is gauged by the notoriously short tenure (less than two years) of the average CMO. The era of brand-centric marketing is giving way to a new breed of CMO who is more focused on measurable performance and business results, concludes the report. The report says that the results of the Marketing Outlook survey shows that old habits die hard. Many of the top-line Marketing Outlook findings bear this out:
The Top Three Accomplishments Marketing Organization Achieved In 2006 Accomplishment % Respondents Including in Top 3 Restructured and realigned marketing to better support sales and drive demand generation 45.7% Overhauled brand image, visual identity, Web site and collaterals to better capture and convey value proposition 29.2% Produced new branding and messaging platform to underscore differentiation 27.6% Implemented new campaigns that significantly advanced the business 26.7% Added important new internal resources 23.9% Improved the yield and accountability of the marketing organization worldwide 21.0% Orchestrated successful new product launches and go-to-market programs 21.0% Better integrated tactical marketing functions with the field and channel groups 16.5% Extracted customer data and analytics for more informed decision-making 15.6% Built acquisition, qualification, conversion and reactivation programs to optimize close and retention rates 15.2% Introduced a formal marketing performance measurement system 15.2% Improved customer engagement through councils and communities 11.1% Created efficiencies with new marketing automation solutions and hosted services 11.1% Developed new channels of engagement using new and digital media 9.9% Reviewed and realigned agency resources and consultants to increase value 8.6% Other 5.8% Created global campaign teams to implement fully integrated programs 5.3% Source: CMO Council, 2007 Measuring marketing's worth, improving marketing's efficiency and effectiveness, and better customer knowledge are top of mind with marketers for 2007. These ranked highly as the top challenges for this year among respondents from companies of all sizes. The Top Three Issues Or Challenges Facing Marketing Organization In 2007 Challenge % of Respondents Including in Top 3 Quantify and measure the value of marketing programs and investments 43.8% Improve the efficiency and effectiveness of the marketing organization 38.7% Grow customer knowledge, insight and conversations 33.7% Improve the allocation and ROIof marketing spend 28.4% Extract greater value and profitability from customer relationships 24.2% Increase credibility, influence and perceived value with senior management 23.0% Develop competencies, business knowledge and strategic alignment of marketing functions and external assets 23.0% Better capture, convey and deliver a clear value proposition to all channels and audiences 23.0% Advance alignments and linkages with business groups, sales field marketing and channel organizations 21.0% Establish a global organizational structure that best delivers results, accountability and measurability 12.4% Move more functions, communications and processes to the Web 10.3% Work more effectively with the IT organization and sources of critical data inside the company 9.1% Deploy new solutions and hosted services that optimize outcomes and processes 5.3% Other 3.7% Source: CMO Council, 2007 |
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